Wedge Capital Management L L P NC Sells 656 Shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR)

Wedge Capital Management L L P NC lowered its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,266 shares of the energy company’s stock after selling 656 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Alpha Metallurgical Resources were worth $1,107,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. bought a new position in shares of Alpha Metallurgical Resources in the 4th quarter valued at about $34,000. Exchange Traded Concepts LLC acquired a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter valued at approximately $41,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Alpha Metallurgical Resources in the 3rd quarter valued at approximately $132,000. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Alpha Metallurgical Resources in the 4th quarter valued at approximately $235,000. Finally, Blue Trust Inc. raised its position in shares of Alpha Metallurgical Resources by 653.2% in the 4th quarter. Blue Trust Inc. now owns 708 shares of the energy company’s stock valued at $240,000 after acquiring an additional 614 shares during the period. Institutional investors own 84.29% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley cut their price target on shares of Alpha Metallurgical Resources from $381.00 to $374.00 and set a “buy” rating on the stock in a research report on Monday, April 15th.

Alpha Metallurgical Resources Stock Performance

Shares of AMR stock opened at $341.44 on Friday. The company has a market capitalization of $4.44 billion, a P/E ratio of 7.01 and a beta of 1.35. The company’s 50 day moving average price is $343.04 and its two-hundred day moving average price is $319.13. Alpha Metallurgical Resources, Inc. has a 52 week low of $132.72 and a 52 week high of $452.00.

Alpha Metallurgical Resources (NYSE:AMR) last announced its earnings results on Monday, February 26th. The energy company reported $12.88 EPS for the quarter, topping the consensus estimate of $8.78 by $4.10. The firm had revenue of $959.90 million for the quarter, compared to the consensus estimate of $796.65 million. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the company posted $13.37 EPS. Analysts forecast that Alpha Metallurgical Resources, Inc. will post 29.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Charles Andrew Eidson sold 30,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $363.06, for a total transaction of $10,891,800.00. Following the completion of the transaction, the chief executive officer now directly owns 50,025 shares in the company, valued at approximately $18,162,076.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kenneth S. Courtis sold 22,802 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $302.81, for a total transaction of $6,904,673.62. Following the completion of the transaction, the director now directly owns 638,234 shares in the company, valued at approximately $193,263,637.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles Andrew Eidson sold 30,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $363.06, for a total transaction of $10,891,800.00. Following the transaction, the chief executive officer now owns 50,025 shares of the company’s stock, valued at $18,162,076.50. The disclosure for this sale can be found here. Insiders have sold 153,971 shares of company stock valued at $55,479,986 in the last three months. 15.00% of the stock is currently owned by corporate insiders.

Alpha Metallurgical Resources Profile

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.